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#31 | |
Nomadic Tribesman
Join Date: Nov 2008
Location: Brampton, Canada
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That's the point. If you put $1,000,000.00 in an offshore account, then it's immediately worth $380,000.00 more than a million dollars that you kept in the US.
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#32 | |
Elitist
Join Date: Nov 2008
Location: SF Bay Area
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Unless his employer paid him under the table, that $1,000,000 is after-tax money. It isn't going to be taxed again. Only the return he makes on it will be taxed. Last edited by Homeslice; 01-19-2012 at 03:20 PM.. |
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#33 |
Nomadic Tribesman
Join Date: Nov 2008
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Because I'm talking about $1,000,000.00 gross income, before taxes. If your money isn't being taxed, you have more.
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#34 |
AMA Supersport
Join Date: Nov 2008
Location: Redneck Riviera, FL
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I doubt he has tax withheld from his speaking fees before he gets the check.
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#35 |
Elitist
Join Date: Nov 2008
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#36 |
Nomadic Tribesman
Join Date: Nov 2008
Location: Brampton, Canada
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Paid from offshore income sources?
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#37 |
Elitist
Join Date: Nov 2008
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#38 |
giggity
Join Date: Nov 2008
Location: socal
Moto: street, sumo & dirty
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What? You don't pay income tax on your wealth, you pay it on your income. Uninvested funds don't earn income, so you're not "making" 38% on anything.
Frankly, I'd be less inclined to vote for him if he was paying 40% on his investment portfolio, because it would show a lack of understanding of the tax system. |
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#39 | |
Nomadic Tribesman
Join Date: Nov 2008
Location: Brampton, Canada
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"Everything's better with pirates." - Lodge, "Dorkness Rising" http://www.morallyambiguous.net/ |
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#40 |
giggity
Join Date: Nov 2008
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